Saudi Arabia: Real estate projects damage farming

Published May 3rd, 2005 - 10:54 GMT

According to Al-Yaum newspaper, the conversion of arable land into residential projects is one of the most difficult decisions to make in light of the currently booming real estate market in Al-Ihsaa region of Saudi Arabia. Real estate investors come from Riyadh, Dammam and other Saudi regions to purchase real estate in Al-Ihsaa. The problem is that the residents of Al-Ihsaa are suffering from real estates shortage since the farms, particularly palms trees, cover most of the local territories and the real estate price in the city is very high.

The per square meter of real estate in the city rises as high as SR 1,300. Mr. Abdul-Rahman Al-Moathen, Real Estate Office Owner in Al-Ihsaa, said that there has to be an urban expansion on the expense of farming territories.